- First Week of September: Notable Unlocks
- Key Unlocks: TAIKO Token
- Future Unlocks and Their Market Impact
Token unlocks will start affecting the market in the first day of September. In a traditionally bearish month, new token inflows will put a strain on available liquidity.
First Week of September: Notable Unlocks
The crypto market faced the challenge of absorbing the unlocks of low-float tokens. Most assets survived and their protocols continued to draw in traffic and produce fees. In September, a new batch of token unlocks is expected, possibly changing the trading profile of several prominent tokens. The first week of September will come with more than $360M in nominal value unlocked. September unlocks will be more subdued compared to previous months, possibly to avoid causing additional bearish pressure. The second week will see the bulk of unlocks for the month, valued at more than $405M. During the same period, projects will have more than $118M in cliff unlocks, testing the liquidity of the market.
Key Unlocks: TAIKO Token
The most significant unlocks in absolute value terms and in supply inflation belongs to Taiko. The Taiko L2 network aims to reach speeds similar to Base, while retaining a high-profile positioning. TAIKO may feel significant price pressure, as currently only about 7% of its total supply is in circulation. Since June and the peak of the airdrop campaign, TAIKO also slid by about 50%, trading at $1.49.
Future Unlocks and Their Market Impact
Other significant unlocks in September include Immutable (IMX), unlocking $40.92M in new tokens earmarked for project and ecosystem development. IMX has already unlocked 79% of the supply and will add only 2% to circulating tokens. Data on token unlocks differ between researchers. Cheelee is listed as the biggest September unlock with more than $388M in tokens. Another significant unlock is expected for MODE on September 5, expanding its supply by more than 38.4%. EIGEN Layer also plans to unlock $28M in nominal value starting September 10.
September promises to be a significant month for the cryptocurrency market, as new token unlocks may impact liquidity and the trading profile of many assets. The market will be closely monitoring these events to assess their impact on pricing and the stability of projects.
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